The Initial Public Offering (IPO) of Enviro Infra Engineers Limited has generated significant attention from investors, and with only one day left for bidding, it’s important to look at the current trends and market sentiment.
Enviro Infra Engineers Limited, a company specializing in wastewater treatment and environmental solutions, opened its IPO on November 22, 2024, and is set to close on November 26, 2024. This gives investors a short window to apply for shares in this public offering. The IPO has seen good interest so far, and as of day three of bidding, the issue has already been subscribed multiple times, indicating strong demand from investors.
Key Details of the Enviro Infra Engineers IPO
- Price Band: ₹420 – ₹441 per share
- Issue Size: ₹540 crore
- Minimum Order Quantity (Lot Size): 17 shares
- Issue Open Date: November 22, 2024
- Issue Close Date: November 26, 2024
A significant indicator of investor sentiment towards an IPO is the Grey Market Premium (GMP). The GMP represents the price at which shares of an IPO are traded in the grey market before the official listing on the stock exchange. As of today, Enviro Infra Engineers IPO GMP has risen to ₹55, which is ₹2 higher than the ₹53 GMP on the previous day. This surge in GMP suggests that investors are expecting a positive listing, with potential listing gains on the horizon.
In the past five days, the GMP has increased from ₹23 to ₹55, a significant rise, which highlights growing investor confidence in the IPO. The increase in GMP is mainly attributed to a trend reversal in the Indian stock market and the strong response from the Indian primary market investors.
The IPO has already seen impressive subscription figures. By on day 3, the IPO had been subscribed 15.28 times overall, with the retail portion booked 10.01 times, the Non-Institutional Investor (NII) portion subscribed 44.49 times, and the Qualified Institutional Buyers (QIB) portion booked 2.59 times. This shows that there is significant interest from both retail and institutional investors, which indicates a healthy demand for the company’s shares.
The Enviro Infra Engineers IPO has attracted strong interest from investors, with a rise in GMP and strong subscription numbers indicating positive sentiment. As the IPO nears its closing date, investors should carefully consider the company’s fundamentals, industry outlook, and valuation before making their investment decisions. With a promising future ahead in the environmental sector, this IPO presents an opportunity that many investors are keen to seize.
Make sure to conduct your due diligence and assess whether this investment fits your portfolio.
